#Finance #Nepal #GreyList
In recent developments concerning asset cleansing, the Financial Action Task Force (FATF) has initiated steps to remove Nepal from the grey list. The decision was made during a meeting of the Asset Cleansing Directive Committee held on Tuesday.
During the meeting, Deputy Prime Minister and Finance Minister Vishnu Prasad Paudel highlighted the importance of following the action plan to ensure Nepal does not fall back into the grey list in the future. Emphasizing the need for sustained efforts, Paudel stressed the necessity for Nepal to work diligently over an extended period.
Furthermore, Minister of Law, Justice, and Parliamentary Affairs Ajay Kumar Chaurasia assured that there are no legal obstacles to removing Nepal from the grey list. He expressed his belief that with determination, Nepal can successfully exit the grey list. Renowned advocate Ramesh Khatri pointed out the essentiality of institutional governance across all sectors.
Secretary-General Eknarayan Aryal emphasized the importance of coordination among all agencies to prioritize tasks. By aligning technology with the action plan, Aryal indicated that Nepal could potentially be removed from the grey list.
Additionally, Nepal Rastra Bank Governor Maha Prasad Adhikari mentioned the urgency of adhering to the action plan from the outset rather than working at the last minute. Participants in the meeting highlighted the necessity of risk assessment, inter-agency coordination, regulation and supervision, research and planning, as well as working in areas such as combating financial crimes. It was underscored that aligning with the law is crucial for effective implementation. Nepal had been placed on the FATF grey list back in the month of Falgun.
Ramesh Khatri, representing Kansai Nepal News, shared his opinion on the matter, stating that sustained institutional governance is crucial for Nepal’s successful exit from the grey list.
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Author: MAYA | HARUTO
Posted at: April 9, 2025 3:01 am
